Japan’s home prices may be rising, but the country still has more than 8 million unoccupied properties, so many that owners have started giving them away for free.

In some cases, local governments are even offering subsidies for people willing to tear down homes and build new ones, according to The Japan Times.

Though many properties aren’t listed on the market, they do appear on onlinedatabases called “akiya banks,” a reference to the Japanese word for “empty home.” While some of these properties are being given away, others are being sold for as little as $US4.

Those outside Japan can purchase the properties without a residence visa, though it’s much easier to find financing if you have one, or have at least worked in the country.

Many of the homes are dilapidated – a product of the shoddy construction methods used during the postwar housing boom in the 1960s.

These prefabricated structures have a lifespan of just 20 to 30 years, according to The Guardian. A number of them are also built on sloping land, making them structurally unsound.

But there are bigger reasons why no one seems interested in buying.

Japan’s population is shrinking, with researchers predicting the loss of about 16 million citizens in a little more than two decades. Its residents are also trending older, meaning there are fewer young people trying to nab property – particularly in suburban or rural areas.

Though there’s certainly a demand for property in cities, Japan’s real-estate market actually encourages the demolition of buildings. Property taxes are six times higher on land with a physical structure as opposed to a vacant lot.

While this problem could be addressed by government incentives, reversing the mindset of local buyers may be a difficult task.

In Japan, it’s often considered bad luck to purchase a home that has witnessed a murder, suicide, or “lonely death” (one that occurred in isolation). Many would prefer to abandon these stigmatised properties than invest in sordid land.